HSBC CEO Noel Quinn plans to retire

HSBC, Europe's largest bank, says that CEO Noel Quinn plans to retire after serving nearly five years in the post.

Quinn has worked at HSBC since 1987. As CEO, he helped with the sale of its Canada and Argentina operations and oversaw the bank's strongest returns in more than a decade.

In 2021, HSBC said that it was closing its U.S. retail banking business in order to refocus its efforts on wealth management. London-based HSBC is one of the world’s biggest banks, but its focus is primarily in Hong Kong, where it was founded, and elsewhere in Asia, and in the U.K. and Europe.